A majority of limited partners in J.W. Childs Associates’s third fund have approved a restructuring led by the Canada Pension Plan Investment Board and Goldman Sachs Group Inc that will transfer five remaining portfolio companies into a newly capitalized vehicle, according to three people with knowledge of the deal.
2 min read · 17 March 2014
With its buy of Shock Doctor, Bregal Partners has completed its fourth platform deal in the past seven months.
3 min read · 17 March 2014
Uranium Energy Corp (NYSE: UEC), a uranium mining and exploration company with headquarters in Corpus Christi, Texas, has had its US$20 million senior secured credit facility extended to July 2016. The facility was originally provided last year by Sprott Resource Lending Corp, a natural resource lender and subsidiary of Toronto-based Sprott Inc, and CEF Ltd. The company will continue to use the facility to advance its hub-and-spoke production platform in Texas.
8 min read · 17 March 2014
Callidus Capital Corp, a specialty lender and portfolio company of Canadian private equity firm Catalyst Capital Group, has filed a preliminary prospectus with Canadian securities regulators (outside of Québec) for an initial public offering (IPO) of its common shares. The Globe and Mail cited unnamed sources that said the IPO is intended to raise up to $200 million. Focused on providing flexible and innovative asset-based loans, with limited or no covenants and an efficient approval process, Callidus aims to fill a gap left by traditional debt sources and targets gross yields of around 20%. As of Dec. 2013, the firm's loan portfolio consisted of 19 loans with an aggregate gross loans receivable amount outstanding of $381 million, according to SEDAR documents.
2 min read · 17 March 2014
Canadian oil and gas producer Encana Corp is in advanced talks to sell its Wyoming natural gas field to private equity firms Carlyle Group LP and NGP Energy Capital Management LLC for about US$2 billion, the Wall Street Journal reported on Sunday, citing unnamed sources. The company has been looking to sell its holdings in the so-called Jonah field as it shifts its focus away from natural gas to drilling for more valuable oil and natural gas liquids, the report said. The Carlyle Group acquired a 47.5 percent stake in energy investor NGP Energy Capital Management for US$424 million in December 2012 to boost its natural resources investments.
1 min read · 17 March 2014
Canadian oil and gas producer Encana Corp is in advanced talks to sell its Wyoming natural gas field to private-equity firms The Carlyle Group LP and NGP Energy Capital Management LLC for about $2 billion, according to unnamed sources.
1 min read · 17 March 2014
Marc Lasry’s $12.6 billion Avenue Capital Group has taken the unusual step of funding a deal in the public markets before it has even figured out what it wants to buy.
3 min read · 17 March 2014
A Delaware judge said Royal Bank of Canada should be held liable to former shareholders of Rural/Metro Corp because it failed to disclose conflicts of interest that tainted the $438 million buyout of the ambulance operator.
3 min read · 17 March 2014
1 min read · 17 March 2014
Vodafone has agreed to buy Spain’s largest cable operator, Ono, for 7.2 billion euros ($10 billion), the latest hefty deal in a European telecoms sector starting to rebuild as the region recovers from a recession.
4 min read · 17 March 2014
